SEC Investigating JPMorgan Over ‘Squared’ CDO
The firm might have allowed a hedge fund to improperly select assets for a CDO.
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The firm might have allowed a hedge fund to improperly select assets for a CDO.
"We were just lambs being led to the slaughter," investor in CDOs whimpers. Only without the blindfold, or the chain, or anything like that.
Even when it comes to potentially criminal behavior, they can't catch up.
Says the firm let hedge-funder John Paulson pay them to structure a crappy CDO, then sold it to clients like it was awesome.